Talisman Energy gets joint study licenses

Indonesian unit of Canadian oil, gas firm Talisman Energy had been given license by the government to conduct joint study.

Santosa Kosasih VP General Affairs and Business Services Talisman Energy Indonesia said the joint study would be conducted in Java, Bali and Sulawesi. He did not give specific detail.

Under the joint study scheme, participant is given exclusive rights to carry out a detailed geological and geophysical programme to evaluate the petroleum prospectivity of the area. On the completion of the programme the Joint Study participant will have a right of first refusal to conclude a direct award for a block within the Joint Study area under Indonesia’s Production Sharing Contract (PSC) terms.

Santosa said Talisman would not be participating in the next exploration tender round, which is scheduled to be opened on October 30.(godang)